Company DetailsTrading PlatformsHow To Place A TradeExecutionAssets & MarketsFinPros FeesLeverage ReviewMobile AppPayment MethodsDepositsWithdrawalsFinPros Demo AccountDeals & PromotionsRegulation & LicensingAdditional FeaturesTechnical ViewsAlpha GenerationAccount TypesRaw+EdgeVantageClassIQHow To Sign UpBenefitsDrawbacksTrading HoursCustomer SupportSafety & SecurityFinPros VerdictAccepted CountriesCompare FinProsFinPros Comparison TableCompare Trading InstrumentsFinPros vs Other BrokersFAQIs FinPros Regulated?Does FinPros Offer A Demo Account?What Platform Does FinPros Offer?What Assets Can I Trade With FinPros?What Is The Minimum Deposit For A FinPros Account?
FinPros is a multi-asset forex and CFD broker. Day traders can invest in over 400 instruments via the MetaTrader 5 terminal. This 2022 review will cover regulatory oversight, platform features, bespoke software, account types, trading fees, and more. Find out if our experts recommend opening an account with FinPros.
Company Details
FinPros is a relatively new broker, founded in 2020. Registered under Finquotes Financial (Seychelles) Ltd, the company is regulated offshore by the Financial Services Authority (FSA) in the Seychelles.
FinPros offers a range of tradeable instruments including forex pairs, cryptocurrencies, indices, and global stocks with low transaction fees and access to advanced trading tools.
The FinPros bespoke trading engine is located next to liquidity partners meaning direct access to liquidity pools for the best prices and trade executions. In fact, the brokerage offers savings of up to 53% and a 27% increase in execution speeds.
New clients can get started in under a minute, with instant account activation and zero deposit or withdrawal fees.
Trading Platforms
FinPros offers the MetaTrader 5 (MT5) platform. This is an award-winning, multi-asset tool that can be downloaded to desktop devices or used as web-based software. The MetaTrader brand offers multilingual services including in English, so you can be assured of simple navigation wherever you are located.
When we used the FinPros MT5 platform, we were impressed with the suite of sophisticated indicators and drawing tools, customizability, and straightforward navigation.
Features include:
21 timeframes
Partial order filling
Six pending order types
Market depth functionality
Multi-thread strategy tester
Integrated economic calendar
38 built-in technical indicators
Access to Expert Advisors (EAs)
Open up to 100 charts at a time
MetaQuotes Programming Language 5 (MQL5)
MetaTrader 5
How To Place A Trade
Once you have opened a new account and completed the identity verification, you can start trading. You will need to fund your account with the relevant initial deposit requirement (varies by profile type, details can be found in the accounts section below). You can then download MT5 to a Windows or Mac device, or use the platform via major web browsers, such as Google Chrome or Internet Explorer.
To open a position:
Click on ‘new order’ which is located second from the left in the top navigation bar. A separate screen will then pop out. Alternatively, you can approve one-click trading via the ‘options’ logo, meaning you can trade directly from charts
Select the asset you want to trade via the Market Watch window or search in the toolbar, for example EUR/USD
Enter the required details, including order type, volume and stop loss or take profit. You can also add comments, ideal for new investors as a reference or those wishing to track trading activities
Confirm the order
How To Trade
Execution
The broker follows a no-dealing desk execution model, meaning all orders are processed using the best market prices available. An ultra-fast cross-connect system is used, with data routing speeds below one micro-second.
The broker can process up to 10,000 trades per second with 25 Gbps SmartNIC ASIC network cards which facilitate high-frequency trading. FinPros servers are also co-located with its liquidity partners at Equinix LD4.
Assets & Markets
FinPros offers 400+ instruments:
Stocks – Trade 300+ company stocks including Walmart, Tesla and Apple
Commodities – Speculate on the price of precious metals and energy including Brent oil, gold and silver
Indices – Trade on nine of the world’s largest stock indices including FTSE100, S&P500 and NASDAQ
Forex – Trade 80+ major, minor and exotic currency pairs including EUR/GBP, GBP/JPY and USD/CAD
Cryptocurrency – Take positions on eight digital currencies including Bitcoin, Ethereum, Litecoin and Ripple
FinPros Fees
Spreads and commissions vary between account types and instruments. The broker’s aim is to provide a pricing model that suits users’ trading styles and strategies. As a result, some accounts charge spreads rather than commissions while other solutions provide raw, tight spreads with a small commission.
ClassIQ offers a cheaper-than-average spread, combined with a lower initial deposit requirement vs other FinPros accounts. There are no commissions with this profile. We were offered spreads of 1.6 pips on the GBP/USD and the EUR/USD currency pairs. The FTSE 100 index can be traded at 2 points.
RAW+ offers ultra-tight, raw spreads from 0.0 pips during periods of high liquidity. A small commission fee ($2 per side) applies. Average spreads based on the past quarter for the GBP/JPY and EUR/GBP were both 0 pips.
Edge offers tight spreads, though not as low as the RAW+ account, with no commission fees. The average spreads based on the past quarter for the GBP/JPY and EUR/GBP were 0.005 pips and 0.00003 pips, respectively. The NASDAQ index can be traded at 1.15 points.
Vantage utilizes institutional swap rates with a standard retail spread. You will find slightly higher spreads vs the other FinPros profiles, but swap charges for positions held overnight are more competitive. The GBP/USD currency pair is offered at 1.6 pips and the DAX 40 index at 2.3 points.
Accounts dormant for more than 90 days will be charged a recurring inactivity fee of $20 per month.
Leverage Review
Maximum leverage varies by account type and instrument. The ClassIQ profile offers the highest margin, with leverage up to 1:500. It is important to note that although high leverage can increase potential returns, it can also amplify losses.
When we used the FinPros platform, we could easily amend our available leverage within the client portal to suit our trading strategy and risk tolerance.
Mobile App
MetaTrader 5 is available as a mobile-compatible app. The application can be downloaded to iOS and Android devices from the relevant app store.
The MT5 app is fully navigational for smaller screens with zoom and contract chart and graph functionality, plus access to full account management. One-click trading is also available, along with MetaTrader’s automated trading bots, live signals, and drawing tools.
The broker does not currently offer a bespoke mobile app, though this is something that may be introduced in the future.
Payment Methods
Deposits
The broker accepts payments via credit/debit card, bank wire transfer, and e-wallets, including Skrill and Neteller. Bank transfers are subject to a minimum deposit of 500 units of the account base currency. The broker aims to credit all accounts within one working day of a payment being made.
FinPros does not charge any deposit fees, though some banking institutions may charge accounting fees for transfers. A currency conversion charge may also apply for funds deposited outside of a standard account denomination, subject to the latest market prices.
It is worth noting that deposits are not permitted until identity verification is complete.
Withdrawals
FinPros processes client withdrawals the same day if requests are made within working hours. However, the time taken for funds to clear will depend on the payment method. This can vary between three to five working days for bank wire transfers, for example.
There are no payment fees charged by the broker but there is a minimum withdrawal limit of 200 units of the base currency with some payment methods, including wire transfers.
Note, withdrawal requests for amounts exceeding 70% of the client’s free margin will not be processed.
FinPros Demo Account
A free MT5 demo account is available to new or existing FinPros traders. When we used the demo terminal, we were offered flexible leverage and unlimited virtual funds. The paper trading profile is the ideal place to practice investing risk-free or interchange between a live profile to fine-tune a strategy.
To sign-up, complete the online registration form as if you were opening a live profile. There is an option to open a practice profile once you have logged in.
Deals & Promotions
While using FinPros, we were not offered any financial incentives or welcome bonuses. This is a shame as many offshore brokers offer promotions due to the limited restrictions in place.
Keep an eye on the website for the latest news and upcoming offers.
Regulation & Licensing
Finquotes Financial (Seychelles) Ltd is regulated by the Financial Services Authority (FSA) of Seychelles as a Securities Dealer. This is an offshore regulatory authority, meaning you may not receive the level of protection or support provided by brokers registered with the UK Financial Conduct Authority (FCA), for example.
Nonetheless, it is good to see some retail client safeguards in place, including negative balance protection as standard on all account types.
Additional Features
Unfortunately, there is a lack of educational content and learning resources available, particularly for new or inexperienced investors. It would be good to see a glossary of key finance definitions, a community forum for idea sharing, and user guides for executing trades and navigating tools.
With that said, clients can make use of several tools to help spot market opportunities and make educated trading decisions:
Technical Views
Technical Views provides actionable trading setups. Users can discover new trade ideas and analyze the best timings for market entry and exit points. It combines automated quantitative algorithms to give you clear market intellect. Traders benefit from full instrument coverage, clear and actionable trading plans plus frequent daily updates.
Technical Views
Alpha Generation
Alpha Generation is a set of custom indicators available on the MetaTrader 5 platform. They can help find new opportunities and identify potential entry and exit points. Users get access to:
Trading setups displayed within MT5 charts
Tailored candlestick patterns for price action trading
ADC entry and exit signals adapted to the latest market conditions
To get started, simply download the plugin from the client area and run the program.
Account Types
FinPros offers several retail trading accounts. The profiles follow different pricing structures and offer a range of features to help investors find an account that best suits their needs.
All accounts offer a minimum trade size of 0.01 lots and full access to the broker’s list of trading instruments. Account currencies include USD, EUR, GBP, CAD, and USDT.
Demo accounts are also available for each profile type, so you can get a feel for the trading conditions before depositing funds.
Raw+
The tightest spreads with a small commission per side. Suitable for individuals looking to trade frequently or aiming to reduce overall trading costs, including day traders and scalpers.
Spreads from 0.0 pips
$2 commission per side
Maximum leverage 1:400
$800 or equivalent currency minimum deposit requirement
Edge
Low spreads with zero commission. Suitable for individuals looking to cut commission fees.
No commissions
Spreads from 0.4 pips
Maximum leverage 1:400
$800 or equivalent currency minimum deposit requirement
Vantage
Suitable for swing traders. Benefit from real-time institutional swaps. Islamic investors can also use the Vantage profile and comply with Shariah Law.
No commissions
Spreads from 1.6 pips
Maximum leverage 1:200
Reduced overnight fees
$800 or equivalent currency minimum deposit requirement
ClassIQ
Competitive spreads and the lowest initial deposit requirement, perfect for beginners.
Trade micro lots
No commissions
Spreads from 1.5 pips
Maximum leverage 1:500
$100 or equivalent currency minimum deposit requirement
How To Sign Up
It is quick and easy to open a new account with FinPros. To register, select the ‘Start Now’ logo on the top right of each web page. Complete the application form and provide the relevant verification details (in line with the firm’s KYC and AML policies).
When we registered for a new profile, we were impressed with the fast and fully automated service. In fact, the broker’s system recognizes over 8000 global ID document types and can activate accounts in less than 60 seconds.
Benefits
Our experts found several key advantages to trading with FinPros:
Ultra-low latency
Free demo account
MetaTrader 5 platform
Negative balance protection
No deposit and withdrawal fees
Commission-free stock trading
21 seconds average response time
Fully automated account registration process
A choice of live accounts and pricing models
Drawbacks
While using FinPros, we also identified several downsides:
Only one trading platform
Limited regulatory oversight
No welcome bonuses or loyalty promotions
High minimum deposit requirement for some accounts
Trading Hours
Trading hours will vary by instrument. Currency pairs are typically available 24/5 and cryptocurrencies can be traded 24/7.
A full calendar with published trading hours per instrument can be found on the broker’s website under the contract specification section. Keep an eye out for upcoming market closures such as public holiday dates.
Customer Support
FinPros offers reliable customer contact options, with help desk services available 24/5:
Email – supportpros@finpros.com
Helpline Phone Number – +357 25263 263
Live Chat – logo located at the bottom right of each webpage
Online Contact Form – located on the ‘Contact Us’ webpage
Social Media Channels – Facebook and Instagram
When we used the online support line, we received a response within one minute. The broker also complies with a “first responder policy”, guaranteeing quick solutions through a single point of contact. Their live channels boast an impressive 21-second average response time with over 95% of queries resolved in the first contact.
Despite the positives, it was disappointing to find no FAQ support for self-guided questions on account errors, the meaning of key finance words and terms, or user guides and introductions to platforms and tools. There is also no head office address provided.
Safety & Security
When we used FinPros, we felt assured of their security stance. Communication transmissions are executed with top-tier SSL data encryption. The broker also uses a secure client area with two-factor authentication (2FA) and high-standard password requirements. Additionally, no personal data amendments can be made until ID verification is complete.
The broker uses a security PIN communication method, which is unique and generated for each account. This is used in all communication between the brokerage and retail clients to help protect against fraud and scam messages.
Client funds are also held in segregated accounts and the broker has professional indemnity insurance.
FinPros Verdict
With several account types and pricing structures, no deposit and withdrawal fees, plus useful market insights and trading tools, FinPros is a good choice, particularly for beginners. The only key drawbacks are the limited platform options and offshore regulation.
Follow the registration link below to start trading with FinPros today.
Accepted Countries
FinPros accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FinPros from Afghanistan, Botswana, Central African Republic, Chad, Cuba, Korea, Congo, Guinea, Eritrea, Guinea-Bissau, Guyana, Iran, Iraq, Laos, Lebanon, Libya, Myanmar, Palestine, Belarus, Sudan, Tajikistan, Trinidad And Tobago, Turkmenistan, United States, Uzbekistan, Vanuatu, Yemen, Zimbabwe.
Compare FinPros
Compare FinPros with similar brokers that accept traders from your location. Among available brokers these are the most similar to FinPros:
InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, and energy, as well as stock indices. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
FinPros Comparison Table
| – | – | 4.5 | 4.7 | – |
| Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities, Crypto |
| Yes | Yes | Yes | Yes | Yes |
| $100 | €200 to €50,000 (depending on account type) | $100 | $10 | $10 |
| 0.01 Lots | 0.01 Lots | $1 | $10 | 0.01 lots |
| FSA | CySEC | CySEC, IIROC, NFA, CFTC, FCA, CIMA | FCA, CySEC, ASIC, FSA | HCMC (Greece), FSCA (South Africa) |
| – | – | No | – | 100% Deposit Bonus available for Global clients |
| No | No | Yes | Yes | No |
| MT5 | MT4, MT5 | MT4 | – | MT4, MT5 |
| 1:500 | 1:30 for retail clients, 1:500 for professional | 1:200 | 1:30 EU | 1:30 EU, 1:500 Global |
| 7 | 10 | 8 | 14 | 8 |
| – | FinPros vs InstaForex | FinPros vs Forex.com | FinPros vs eToro | FinPros vs AAAFx |
| – | ||||
| FinPros Review |
InstaForex Review |
Forex.com Review |
eToro Review |
AAAFx Review |
Compare Trading Instruments
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FAQ
Is FinPros Regulated?
FinPros is registered under the company name; Finquotes Financial (Seychelles) Ltd. The broker is regulated by the Financial Services Authority (FSA) in the Seychelles. Note, this is an offshore entity meaning limited regulatory oversight and access to consumer protection schemes.
Does FinPros Offer A Demo Account?
Yes – FinPros offers a free practice profile. Users can access unlimited virtual funds and flexible leverage up to 1:500. Traders can then upgrade to a real-money account when they feel ready.
What Platform Does FinPros Offer?
Retail investors can trade on the MetaTrader 5 (MT5) platform. The terminal can be downloaded to desktop devices, installed as a mobile app, or accessed via internet browsers. MT5 offers a range of instant and pending orders, automated trading functionality, and advanced indicators and analysis tools.
What Assets Can I Trade With FinPros?
FinPros is a multi-asset broker with trading opportunities on forex, commodities, indices, cryptocurrencies, and global stocks. More than 400 instruments are available in total.
What Is The Minimum Deposit For A FinPros Account?
The minimum deposit varies by account type. The lowest is $100 or equivalent currency on the ClassIQ profile. Other accounts require an $800 or equivalent initial deposit. This is considerably higher than some competitors.